CS Disco, Inc. (NYSE:LAW) Sees Large Growth in Short Interest

CS Disco, Inc. (NYSE:LAW - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 887,500 shares, a growth of 8.8% from the March 15th total of 815,500 shares. Based on an average daily volume of 199,400 shares, the days-to-cover ratio is currently 4.5 days. Approximately 3.7% of the shares of the company are sold short.

Insider Transactions at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of CS Disco stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the transaction, the chief financial officer now directly owns 826,345 shares of the company's stock, valued at $5,635,672.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.30% of the company's stock.

Hedge Funds Weigh In On CS Disco

A number of hedge funds have recently modified their holdings of LAW. Norges Bank acquired a new position in CS Disco in the fourth quarter valued at $13,467,000. Bank of New York Mellon Corp lifted its holdings in CS Disco by 81.5% in the third quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company's stock valued at $7,869,000 after buying an additional 353,335 shares during the period. BlackRock Inc. lifted its holdings in CS Disco by 17.2% in the first quarter. BlackRock Inc. now owns 2,266,047 shares of the company's stock valued at $76,978,000 after buying an additional 332,076 shares during the period. Vanguard Group Inc. lifted its holdings in CS Disco by 20.9% in the first quarter. Vanguard Group Inc. now owns 1,496,001 shares of the company's stock valued at $50,819,000 after buying an additional 258,911 shares during the period. Finally, Berylson Capital Partners LLC lifted its holdings in CS Disco by 424.2% in the fourth quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company's stock valued at $2,145,000 after buying an additional 228,669 shares during the period. Institutional investors and hedge funds own 58.05% of the company's stock.

CS Disco Stock Performance

Shares of NYSE:LAW traded down $0.17 during mid-day trading on Monday, reaching $7.74. 260,998 shares of the company's stock were exchanged, compared to its average volume of 200,139. The firm has a market capitalization of $472.30 million, a price-to-earnings ratio of -10.89 and a beta of 2.26. The business's fifty day moving average price is $7.59 and its 200-day moving average price is $7.08. CS Disco has a twelve month low of $5.07 and a twelve month high of $10.77.

CS Disco (NYSE:LAW - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.11. The company had revenue of $35.74 million for the quarter, compared to analyst estimates of $34.94 million. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. Analysts predict that CS Disco will post -0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LAW shares. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of CS Disco in a research note on Wednesday, April 10th. JPMorgan Chase & Co. initiated coverage on shares of CS Disco in a research report on Monday, March 25th. They issued a "neutral" rating and a $9.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of CS Disco from $6.50 to $7.50 and gave the company a "neutral" rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.31.

CS Disco Company Profile

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.

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